Cost recovery for COVID-19 continues to be a complex puzzle with many different pieces. Current challenges are magnified as the virus continues to spread, vaccine distribution ramps up, and federal funding opportunities and rules continue to change almost daily.
On Thursday, February 18, 2021, our partners at Hagerty Consulting will host a webinar, COVID-19 Cost Recovery: Ways to Maximize Federal Funding for Response, Recovery, & Vaccination. During the presentation, the Hagerty team will discuss ongoing response and recovery challenges and offer potential solutions by outlining recent federal policy changes; current federal funding opportunities; tangible ways to jumpstart your community’s financial recovery process; as well as what the future of professional emergency management and public health may look like because of the pandemic.
Among other topics, highlights will include:
- An overview of the changing federal strategy for COVID-19 response and recovery. In addition to the American Rescue Plan, the Biden’s administration recently released its National Strategy for the COVID-19 Pandemic, which included seven major goals.
Attendees will better understand the changing federal policy landscape associated with COVID-19 response and recovery and what the impacts could be in their community. From a cost recovery perspective, two recent, important changes for local government will be discussed:
- The recent increase of the FEMA Public Assistance (PA) federal cost-share from 75% to 100% for COVID-19 associated and eligible costs.
- Federally supported community vaccination programs.
- Recent changes to the Coronavirus Relief Fund (CRF). The deadline for recipients to expend CRF allocations was extended by the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act passed by Congress in late December. Eligible expenses can now be incurred from March 1, 2020 through December 31, 2021. Attendees will learn how to flexibly utilize these funds by the deadline in coordination with other federal funding streams.
- Update on policy and procedure shifts within the FEMA Public Assistance program. The unprecedented nature of the COVID-19 pandemic has led to constantly evolving FEMA PA policies and procedures. Recently, the Biden Administration announced that FEMA will now pay 100% federal funding for the costs of COVID-19 response activities that have previously been determined eligible, from the beginning of the pandemic in January 2020 to September 30, 2021. The presentation will discuss the details of this policy change and how it can benefit your cost recovery.
- Introduce the Emergency Rental Assistance Program (ERAP). The CRSSA Act included a $25 billion Emergency Rental Assistance Program to aid households that are unable to pay rent or utilities due to the ongoing impacts of COVID-19. This is a "use it or lose it" program with outstanding funds being reallocated to other recipients starting in September 2021. The U.S. Department of Treasury has implemented strict eligibility, documentation, and compliance requirements that must be adhered to. Attendees will learn the fundamentals of this new program and what elements are necessary to make the program a success.
- Describe how to access the Education Stabilization Fund. More than $110 billion has been appropriated by Congress through the CARES and CRSSA Acts to assist public, private, and nonprofit elementary, secondary, and higher education institutions as they continue to provide education while simultaneously responding to the ongoing pandemic. Attendees will learn more about these funding opportunities and what assistance their communities may be eligible for.
Throughout the COVID-19 pandemic, Hagerty professionals have supported state and local governments and over 100 hospitals and healthcare systems nationwide. Planning and organizing now will prevent the need to untangle information after the fact and will increase the chances of federal reimbursement. In addition to addressing the important topics outlined above, the Hagerty Team will be available to answer COVID-19 response and recovery questions.